500 N LSD is a redesign by SCB of Related Midwest's tower, The Peshtigo, first proposed in 2007 and designed by Perkins + Will. According to the Streeterville Organization of Active Residents website, the new building 465 feet high and 45 floors (down from 645 feet in the original 58-story proposal). The new tower/redesign was unveiled in February 2011.

"The original design was to be called The Peshtigo because of the street on which it was to be built, block-long Peshtigo Court, home for decades to Mundie, Jensen's 1937 streamlined Kraft Cheese Company building. After the corporation fled to the suburbs, the structure was purchased by the Chicago Police Department, and in 2003 it was demolished. It was intended to have 358 condominium units near the top of luxury pricing. The units were larger than usual, the smallest being 882 square feet. The redesigned 500 N LSD will instead have about 500 luxury rental apartments, the smallest being 600 square feet. The new tower, designed for a Chicago market post-2008, is 120 feet shorter, a half million square feet smaller, with as many as 150 more units."

The Chicago Plan Commission signed off on the redesigned 500 North Lake Shore Drive proposal on June 16th, 2011, after SOAR (Streeterville Organization of Active Residents) signed off on a redesign of the buildings' 400 car parking garage that added a year-round living green wall. The building was accepted with criticism, with Gail Spreen, chairwoman of the real estate division of SOAR stating “This is the second best site in Streeterville,” she said, the first in her estimation being the forlorn Chicago Spire hole at 400 N. Lake Shore Drive. “Whatever gets built there will be seen forever. It’s disappointing that the design is so average.” There were also complaints about the building's large parking garage being both unsightly and a potential cause of increased vehicular congestion.

Site prep began in August 2011 and caissons were being drilled as of September 7th, 2011. Official groundbreaking is set for August 14th, 2011. It is expected to be completed in September 2013.

Streeterville apartment tower lands $100-million loan
Related Midwest has borrowed $100 million from Bank of America to finance construction of a $157-million apartment tower on Lake Shore Drive in Streeterville, according to a mortgage filed with the Cook County Recorder. The developer, a unit of New York-based Related Cos., began preparing the development site at 500 N. Lake Shore Drive a few weeks ago and held a groundbreaking ceremony for the 500-unit project on Wednesday. Related and its equity partner, the AFL-CIO Building Investment Trust., are investing $57 million of equity in the 45-story tower.

That the loan is from BOA is a sign that this project will be successful in attracting tenants. BOA has had its share of issues. The acquisition of Countrywide continues to be a drag on its books. AIG recently filed a $10 billion suit against BOA for mortgage fraud. Fortunately, Warren Buffet came to the rescue with a $5 billion investment similar in nature to his investment in Goldman Sachs during the heart of the financial crisis. My point: BOA is being very careful with its capital. It would not lend these funds if it didn't view 500 North LSD as airtight. Hopefully, this bodes well for whatever replaces Waterview, considering that Related is the developer.

^ The render does really seem like it's trying to convey that the design is composed of plants or some other small elements. But considering that 5 months out of the year the frigid wrath of nature is blowing against that wall, I'm really not so sure. Stone mosaic?

Exactly, with flowers only blooming for 1 month out of the year, seems like an awful lot of work for that little of time if it is flowers. Either way, the base is still pretty ugly to me. It's massive. You can't hid it with pretty colors and trees. Think about that, they have TREES on it!

That's probably midwest sedum. From my apartment I can see 3 rooftops that have it, though you don't have to maintain a horizontal position, it can be used on walls. 900 North has some. You can do some crazy designs and it basically looks the same all year round. I have a sample at my office that I use to show clients. I tend to forget to water it, so they last through some harsh conditions. Some of the colors look a bit extreme in the rendering, but I believe something like that wall can be done easily.

It snows more frequently than one would think; the high altitude gives Madrid colder winters than other continental Mediterranean cities. Not that it even matters. As Hayward pointed out, there are in fact species of plants that 'look good' all year round. Brightly colored flowers aren't necessary-- there are hardly any in the "vertical garden."

It snows more frequently than one would think; the high altitude gives Madrid colder winters than other continental Mediterranean cities. Not that it even matters. As Hayward pointed out, there are in fact species of plants that 'look good' all year round. Brightly colored flowers aren't necessary-- there are hardly any in the "vertical garden."

Also, let's not forget about the fact that there are plentiful native species that look wonderful year-round even if they don't stay lush and green all year. After all, this is a prairie where dozens of interesting grasses used to thrive many of which retain a distinctive texture and color throughout the winter. I could see the green wall looking even more attractive during the winter months if the designers use the right mix of junipers, ever-greens (like certain ivy's), and prairie grasses.

Also, let's not forget about the fact that there are plentiful native species that look wonderful year-round even if they don't stay lush and green all year. After all, this is a prairie where dozens of interesting grasses used to thrive many of which retain a distinctive texture and color throughout the winter. I could see the green wall looking even more attractive during the winter months if the designers use the right mix of junipers, ever-greens (like certain ivy's), and prairie grasses.

Indeed. People don't give the prairie enough credit. It's beautiful.

As for my 2 cents, I prefer the old design, but the more buildings like this in Chicago the better for everyone. It's one of the few large cities in the US where someone can get a rental or condo in a downtown area at a reasonable price. I like to think that is part of that prairie mentality.